Allen Investment Management LLC decreased its stake in shares of CarMax Inc (NYSE:KMX) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 13,762 shares of the company’s stock after selling 280 shares during the period. Allen Investment Management LLC’s holdings in CarMax were worth $734,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of CarMax by 2.5% in the third quarter. BlackRock Fund Advisors now owns 3,119,225 shares of the company’s stock valued at $166,411,000 after buying an additional 74,621 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of CarMax by 14.4% in the third quarter. Stephens Investment Management Group LLC now owns 305,146 shares of the company’s stock valued at $16,280,000 after buying an additional 38,407 shares during the last quarter. Sei Investments Co. increased its stake in shares of CarMax by 77.7% in the third quarter. Sei Investments Co. now owns 349,306 shares of the company’s stock valued at $18,635,000 after buying an additional 152,705 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of CarMax by 0.3% in the third quarter. Prudential Financial Inc. now owns 274,185 shares of the company’s stock valued at $14,627,000 after buying an additional 929 shares during the last quarter. Finally, BB&T Securities LLC increased its stake in shares of CarMax by 4.1% in the third quarter. BB&T Securities LLC now owns 136,599 shares of the company’s stock valued at $7,287,000 after buying an additional 5,441 shares during the last quarter.
Shares of CarMax Inc (NYSE:KMX) opened at 67.54 on Friday. The firm has a market capitalization of $12.64 billion, a PE ratio of 21.40 and a beta of 1.34. CarMax Inc has a 12-month low of $43.47 and a 12-month high of $68.86. The company’s 50-day moving average price is $66.11 and its 200-day moving average price is $58.70.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Tuesday, December 20th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. CarMax had a return on equity of 21.02% and a net margin of 3.96%. The company earned $3.70 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts anticipate that CarMax Inc will post $3.29 EPS for the current year.
Several equities analysts have commented on the company. Morgan Stanley cut CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 price target for the company. in a report on Wednesday, February 1st. Wedbush reaffirmed a “neutral” rating and issued a $55.00 price target on shares of CarMax in a report on Friday, October 21st. Deutsche Bank AG raised CarMax from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $68.00 in a report on Monday, October 24th. Vetr raised CarMax from a “sell” rating to a “strong-buy” rating and set a $69.00 price target for the company in a report on Tuesday, December 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of CarMax in a report on Sunday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. CarMax currently has an average rating of “Hold” and an average price target of $63.28.
In related news, CFO Thomas W. Reedy, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $65.77, for a total value of $197,310.00. Following the completion of the sale, the chief financial officer now directly owns 60,183 shares in the company, valued at $3,958,235.91. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO William C. Jr. Wood sold 6,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $66.24, for a total value of $410,886.72. Following the completion of the sale, the chief operating officer now owns 55,096 shares of the company’s stock, valued at $3,649,559.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,296 shares of company stock valued at $13,311,853. Corporate insiders own 1.70% of the company’s stock.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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